Consumer Prices, Inflation Rose to a Record High

According to a Labor Department report Thursday, the pace of price increases over the past year unexpectedly increased in September as policymakers contemplated interest rates.

The consumer price index, a broad gauge measuring the costs of goods and services across the U.S. economy, increased 0.2% for the month, putting the annual inflation rate at 2.4%. Both readings were 0.1 percentage points above the Dow Jones consensus.

Excluding food and energy, core prices increased 0.3% on the month, putting the annual rate at 3.3%. Both core readings were also 0.1 percentage points above forecast.

The Bureau of Labor Statistics said in the release that much of the inflation increase—more than three-quarters of the move higher—came from a 0.4% jump in food prices and a 0.2% gain in shelter costs. That offset a 1.9% fall in energy prices [which is temporary as Biden has our strategic reserves drained or allows Iran to gut the market].

So, Reuters wrote: US consumer prices rose slightly more than expected in September amid higher food costs, but the annual increase in inflation was the smallest in more than three-and-one-half years, keeping the Federal Reserve on track to cut interest rates again next month.

In other words, it’s the lowest since Biden took office, and it coincidentally happened as the election approaches.

Thank the Democrats, especially Kamala, who can’t stop praising Bidenomics and loves Maduro-style price controls.

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